The Law Offices of Frank R. Cruz announces an investigation of DZS Inc. (“DZS” or the “Company”) (NASDAQ: DZSI) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On June 1, 2023, before the market opened, DZS disclosed that it needs to restate its previously issued financial statements for the first quarter of 2023. The Company further disclosed that the restatement relates to approximately $15 million in revenue recognized in connection with two customer projects.
On this news, DZS’s stock price fell approximately 33% during intraday trading on June 1, 2023.
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If you purchased DZS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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The Law Offices of Frank R. Cruz Announces Investigation of DZS Inc. (DZSI) on Behalf of Investors